Las Vegas, NV – October 24, 2008 – (RealEstateRama) — Nevada Senator Harry Reid joined Las Vegas Mayor Oscar B. Goodman, Las Vegas City Councilman Steven D. Ross and other officials this week to tour a northwest Las Vegas neighborhood that could receive major assistance fighting the foreclosure crisis through the Neighborhood Stabilization Program. Created through the housing legislation recently passed by Congress and signed by the President, the program gives tools to fight the negative effects of foreclosures on neighborhoods to cities, counties and states.
Senator Reid discussed more than $70 million in help he secured for Nevada families affected by crisis. Nevada will receive more than $70 million in federal funding, with the City of Las Vegas slated to get at least $14.7 million. The program is administered by the Department of Housing and Urban Development (HUD.) “The money we brought to Nevada through this program goes directly to our working families,” Reid said. “The pain of foreclosures touches every Nevadan in some way, and we are working to combat these problems every day. This program helps to protect home values for neighborhoods throughout our state.” For more information on foreclosure-related assistance for Nevadans, click here.
